Radiant, who just raised $100m series C, began the pre-application process for its Kaleidos microreactor with the U.S. Nuclear Regulatory Commission (NRC) in October 2022. In February 2023, Radiant participated in a public meeting with the NRC to discuss the Kaleidos, along with their business and licensing plans, and submitted a Regulatory Engagement Plan to outline their approach to obtaining the necessary approvals, initially leveraging a testing pathway at Idaho National Lab to bypass full NRC processes.
For broader commercialization, Radiant will face the challenge of navigating the stringent NRC approval process, which requires intensive resources and carries the hurdle of public safety perception. Radiant’s technology is based on proven high-temperature gas-cooled reactors with helium cooling and TRISO fuel, key challenges remain in securing HALEU fuel supply, which is limited and highly competitive, and in scaling production while controlling costs.
Radiant’s focus on mobile microreactors for remote and military applications is an innovative adaptation of old technology, yet it will need to convince the market of nuclear’s benefits over alternative off-grid solutions. Further, developing a cost-effective manufacturing process for these reactors and managing complex logistics for deployment will be essential for scaling Radiant’s solution to meet market demand. Radiant has raised $165 million, including two Small Business Innovation Research (SBIR) Phase II awards and one SBIR Phase I award.
We’re super excited to announce the close of our $100M Series C, led by DCVC! This investment comes on the heels of our passive cooldown demonstration, a critical milestone test of a full-scale, non-fueled reactor, and brings the company’s total venture funding to $160 million.
The funds will primarily be used to complete our Kaleidos Development Unit (KDU), which we will fuel and operate at Idaho National Laboratory's Demonstration of Microreactor Experiments facility. The KDU is the same reactor design that will be mass manufactured and sold to customers.
Radiant is excited to welcome new investors Felicis, Washington Harbour Partners LP, and Chevron Technology Ventures, and appreciates the continued support of Andreessen Horowitz, Union Square Ventures, Founders Fund, Decisive Point, McKinley Alaska Growth Capital, Boost VC, and Also Capital.
We've got the team. We've got the hardware. And now we've got the money...it's time to build a reactor!!
If you want to learn more, check out Alan Neuhauser's writeup in Axios: https://lnkd.in/gW8k-E57
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Vice President, Information Technology Operations & CSO
1 个月Great news